Insurance is all about being patient, and the same logic would apply to ICICI Prudential, which promises steady returns if investors stay put on the stock.
Nilesh Shah, MD of Kotak MF, said the market crash was not going to impact long-term investors. Instead, investors should use the dips to enter the market.
Nifty50 managed to sustain at the midpoint of the current trading range and formed a ‘Bullish Harami’ pattern, which suggests a trend reversal is on the cards.
Foreign institutional investors (FIIs) were a net buyers in both equity cash and index futures segments. They bought stocks worth Rs 79 crore.
Domestic indices are likely to track global cues today, as crude oil prices rallied in overnight trade after OPEC members agreed to cut output by 70,000 bpd.
A ‘Small Bullish’ candle is formed when the index trades higher throughout the session but within a defined range. The length of the candle signifies the trading range for the day.
The high growth potential in average daily value (ADV) and thus revenues and earnings for MCX from the introduction of options are clearly not priced in.
Equity benchmark Sensex has rallied over 26 per cent from its 52-week low of 22,494 and a little over 7 per cent in last three months.
The widely-tracked Nifty Bank is up nearly 18 per cent led by gains in Yes Bank (up 68 per cent), IndusInd Bank (up 35 per cent) and HDFC Bank (up 25 per cent).
Total Put open interest of 56.62 lakh contracts now stands at strike price 8,500, which will act as a crucial base for the market in the September series.
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